With Direct Deposit you authorize a company or organization to electronically send money to your credit union savings or checking account on an agreed upon date. Paychecks, social security checks and other types of regular payments can all be electronically transmitted to your USF FCU account. This is known as electronic funds transfer (EFT). All EFT transactions will appear on your monthly statement so you'll always have a record of the amount deposited. Since paycheck amounts may vary, the net amount will also be shown on a paystub.